Some people are refused a payday loan because they are self-employed or unemployed or because their monthly out-goings are higher than their income - or sometimes because the minimum net salary requirement is not met.

Others may have bad credit such as CCJ's, Defaults, be in arrears with loan repayments even though their net income is acceptable. Payday lenders that carry out credit checks can see your credit status when they get your credit file.

So if you fall into one of these categories what can you do, what are the alternatives to payday loans?

Well, if you have a car then you may be in luck because you can qualify for a logbook loan. Logbook loans offer a secured, same day loan solution by using the log book of your vehicle as security.

There are several companies in the UK that offer logbook loans. The ones which have a Consumer Credit License to operate in this market, from the Office of Fair Trading (OFT), are genrally regarded as been level players and can be trusted, although it is a good idea to read as many reviews online as you possibly can before taking out a loan with a logbook lender.

The loans are available quickly and most of the time within 24 hours. And better still, no credit checks are carried out so your credit file is not accessed and therefore applicants with bad credit are accepted. This is great news as even people with bad credit are not excluded from the loans market.

So what are the requirements to secure a logbook loan?

1. You have to be the legal owner of the car (or the vehicle) which has the logbook; 2. The car/vehicle must be clear (or nearly clear) of finance. If you have 1 or 2 months of finance repayments left to make on the car then some lenders will accept you; 3. The car must be registered in 2004 or later, i.e. it must be 8 years old or less; 4. You chose from a loan term of up to 78 weeks and early settlement is allowed with no penalty charges for doing so; 5. You drive in with your car and drive away with your cash loan - can be as quick as 15 minutes; 6. You KEEP your car, the lender just holds onto your log book (which you get back once you repay the loan).

Some logbook loans businesses have been established in the UK for more than 8 years now. They are responsible lenders and will require you to complete a simple income and expenditure form to ensure you can afford the loan - a sensible step to prevent you ending up with debts you cannot pay back.

A typical APR of 437.4% is not uncommon and is high but it can be reduced significantly if you opt to repay and settle the loan early. Also, there is no early settlement charge.

In addition to the advantages outlined in this logbook loans review please note that: - only one lender operates in the whole of the UK, including Scotland and Northern Ireland (the other lenders do not cover these areas). - only one lender is fast: when you apply they will get back to you within 2 hours.